Bank of Ireland to seek shareholder backing for LSE delisting (updated)
16/04/2026 15:00
Adds comapny's comment in paragraph 4, details and background throughout April 16 (Reuters) - Bank of Ireland BIRG.I said Thursday it would seek shareholder approval to delist from the London Stock Exchange, citing negligible trading volumes of its shares on the UK exchange in recent years, in a potential blow to the London market. If approved, the UK stock market will lose two Irish banking names over the next year. Irish retail lender Permanent TSB on Tuesday agreed to be purchased by Austrian lender BAWAG Group BAWG.VI in a 1.62 billion euro deal. London has lost major companies in recent years, including Irish building material supplier CRH CRH.N, as firms increasingly reassess their UK listings amid persistently low valuations and better liquidity elsewhere. UK firms have also become takeover targets in recent years. "The board considers that the cost of maintaining the LSE listing is no longer in the interests of the company and its shareholders as a whole," the company said in a statement. Ireland's biggest lender said it would propose the delisting at its annual general meeting on May 21. The cancellation is expected to take effect on June 29 if shareholders approve the move, while its Dublin listing will remain unchanged. (Reporting by Yamini Kalia and Yadarisa Shabong in Bengaluru; Ediitng by Tasim Zahid) ((Yamini.Kalia@thomsonreuters.com))